US stocks crawl higher

Dmitry Lukashov IFC Markets

Dollar weakened on softer than expected home builder report

US stock market resumed advancing on Monday led by technology stocks as the Federal Reserve started two-day policy meeting. The S&P 500 gained 0.1% to 2889.67. Dow Jones industrial added 0.1% to 26112.53. The Nasdaqcomposite rose 0.6% to 7845.02. The dollar turned marginally lower yesterday on reports manufacturing activity in the New York state and home builder confidence declined in June: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.02% to 97.53 and is lower currently. Futures on US stock indices point to higher openings today.

CAC 40 top performer among European indexes

European stocks extended losses on Monday . EUR/USD turned higher while GBP/USD continued its slide with euro higher currently whereas Pound continues falling. The Stoxx Europe 600 index slipped 0.1%. The DAX 30 fell 0.1% to 12085.82 dragged by 11.6% Lufthansa plunge on earnings warning. France’s CAC 40 however added 0.4% and UK’s FTSE 100 advanced 0.1%.

Hang Seng leads Asian indexes rebound

Asian stock indices are mostly rising today despite US Commerce Secretary Wilbur Ross comment on Monday that President Donald Trump is “perfectly happy” to impose tariffs on the remaining $300 billion of Chinese imports if two countries fail to agree on a deal. Nikkei closed 0.7% lower at 20972.71 with yen resuming its climb against the dollar. Markets in China are gaining: the Shanghai Composite Index is up 0.1% and Hong Kong’s Hang SengIndex is 0.9% higher. Australia’s All Ordinaries Index turned up 0.6% as Australian dollar continued sliding against the greenback.

Brent down

Brent futures prices are extending losses today. Prices fell yesterday: August Brent crude lost 1.7% to $60.94 a barrel on Monday.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.